According to the Food and Drug Administration, U.S., remanufacturing of
medical devices is defined as the processing, conditioning, repackaging,
renovating, restoring additional features/updates to finished device, which
takes the scope of finished device’s performance beyond its original position
i.e. better than original device. As per the European Coordination Committee of
the Radiological, Electrochemical and Healthcare IT Industry (COCIR), Japan
Industries Association of Radiological Systems (JIRA) AND Medical Imaging and
Technology Alliance (MITA), the remanufacturing of medical imaging devices
consists of the following steps: equipment selection, disassembly, packing and
shipment; cleaning and disinfection; remanufacturing planning; mechanical and
electrical remanufacturing; final packing, shipment and reinstallation.

The
terms remanufacturing and refurbishing of medical devices are significantly
have different meanings when applied to medical devices. According to the EU
regulations, when a medical device is cleaned, repaired and updated to relevant
safety standards is defined as the refurbishment of medical device.
Remanufacturing of medical devices include various imaging devices such as
magnetic resonance imaging (MRI), computed tomography (CT), X-ray,
interventional cardiology, ultrasound scanners. These medical imaging
equipments are highly capital intensive both to use and purchase due to the
involvement of advanced technology. Subsequently, this leads to the high demand
for remanufactured medical devices. Remanufacturing of medical imaging devices
is considered as an eco-friendly practice, as it avoids disposal and pollution
burden.

Furthermore,
these remanufacturing practices enabled hospitals to redirect tons of medical
waste from confined landfills. Currently, most of the medical device
manufacturers are marketing their remanufactured and refurbished medical
devices as economical and eco-friendly devices. For an instance, Siemens
healthcare company has an eco-friendly medical devices product portfolio, which
comprises various remanufactured medical devices.

The
market for global remanufactured medical devices is expected to foresee a huge
growth in coming next years. The contributing factors behind such an assessment
include increasing healthcare professional’s inclination towards usage of
eco-friendly and economical medical devices, cost-cutting measures and broad
shift towards value driven healthcare. Additionally, decline in reimbursement
policies for medical imaging devices, continued dominance of remanufactured
medical equipment sales and rising demand for advanced digital diagnostic
imaging systems would expect to drive the market.

Moreover,
several attributes such as improving private insurance scenarios for these
devices and need for rationalizing healthcare budgets aiding the adoption rates
of these devices among the healthcare professionals and hospitals.
Consequently, these factors would expect to accentuate the growth of this
market. However, the risks associated with these devices and its effectiveness
could pose a challenge for the growth of this market in future.

Geographically,
North America accounts for the largest market share of the overall
remanufactured medical imaging devices market followed by the European region.
The dominance of North America in this market is seen due to increased
preference for remanufactured medical devices and presence of various market
leaders, which allows easy penetration in the North America region. In the
United States, diagnostic imaging centers and hospitals are the two leading
buyers of these medical devices. The European remanufactured medical devices
market follows North America due to extensive government support for the
development of innovative medical devices for imaging procedures.

This research report analyzes this market on the basis of its
market segments, major geographies, and current market trends. Geographies
analyzed under this research report include

·North America

·Asia Pacific

·Europe

·Rest of the World

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